So, I am 29 years old, living in hilariously expensive Thousand Oaks, CA. My wife just got a 6 figure job at Amgen, and I am completing my teaching credential and masters degree this summer. We can expect to be making in the vicinity of $160k a year, increasing by about 5% a year. My wife has an amazing employer matching retirement fund, in which her employer will put 10% of her salary into retirement if she puts 5% in, which we are of course taking advantage of. We aren't putting any more, however, because we are looking to buy a house in the next year or 2. We currently have about $70k in liquid assets, but we are hoping to get over $100k when it comes to a down payment.
Now, for the simple questions and advice. I currently have a TD Ameritrade account, Merrill Lynch account, Fidelity, AND Robinhood. I want to close the ameritrade, use Merril Lynch for my main IRA and stock holdings, continue using fidelity for my 401k until I have a new employer, in which case I will rollover into whatever they utilize, and I want to use Robinhood as my fun toy to satisfy my investing urge, never allowing robinhood to exceed 10% of my total holdings. Is it smart to have this outlook/plan?
tl;dr I have multiple (3) brokerage accounts, is it wise to close one of them? Should my wife be exceeding her employer match into her 401k if we are looking to buy a house soon? Is it reasonable to expect to buy a house in Thousand Oaks, CA (or nearby) with a $100k downpayment on an income in the neighborhood of $160k, increasing by about 3-5% per year?
Thanks so much.
Submitted April 18, 2017 at 12:58AM by Aimingforsuperior http://ift.tt/2pw2WX9
